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Tag Archives: William Dudley

Fed’s Dudley Warns on Dangerous ‘Speculative Mania’ Around Cryptocurrencies John Lothian Newsletter,Newsletter

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First Read FCMs Big And Small Suffer Major Losses On Latest Black Monday Jim Kharouf – JLN On February 5, the historic trading day when the Dow Jones Industrial Average fell 1,175 points and the S&P 500 plunged 113 points, many customers suffered significant losses which forced several futures commission merchants to cover those deficits. The severity of the losses on that day was reflected in major drops in FCM customer segregated funds, some to alarming levels. Among the biggest shocks was at RBC Capital Markets, which on February 5 posted a deficiency of funds in segregation of $1.13 billion….

NYSE Arca Suffers Glitch During Closing Auction; High-Frequency Traders Fall on Hard Times; Threat or Opportunity? Blythe Masters Talks Blockchain Jobs Impact John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian This morning we present the first of our MarketsWiki Education World of Opportunity videos from Stockholm. Peter Fredriksson of Baymarkets is the first up with a story about Stockholm. My phone experienced a series of text messages yesterday as NYSE Arca Equities had electronic trading problems late in the day. Here is the System Status page with the details on the problem. It was ten years ago when I went to the FIA Boca Raton conference with an idea: MarketsWiki. It was there I pitched various firms about the idea. I…

Deutsche Bank cuts ties with 3,400 clients in trading business; A Look Inside Wall Street’s Innovation Labs; OCC Names New CFO, Treasurer, and Chief Compliance Officer John Lothian Newsletter,Newsletter

First Read Derivatives luminary Donald Wilson at centre of courtroom battle; Famous derivatives trader has professorial air as he testifies in New York courtroom by: Gregory Meyer in New York – FT An ice storm, an email suggesting regime change and the mechanics of thinly traded futures markets have emerged as central points of contention in the market manipulation trial of one of the world’s biggest traders in financial derivatives. /goo.gl/iO6uWm ***** Why would you take a sizeable position in an illiquid market? Because you were getting a big edge. And if the other side was mis-pricing the instrument, then…

John Lothian Newsletter: High-Speed Trading Firm Deleted Some Code by Accident; U.S. securities regulator expands use of powerful software; FXCM says it has been hacked John Lothian Newsletter,Newsletter

First Read A Leg To Stand On: Power To Help Rich Hansen To all that care: Power. The power to hurt, the power to ignore, the power to help. It comes in so many forms and is used in so many ways. Many people don’t even consider how much power they have in most given situations. And, of those people who do, very often they make the choice to use their power to ignore what is happening by not getting involved, by not lending a hand – even when it takes very little effort. We can often think of those…

JLN Financials: Yellen Debut Rattles Markets; European Bonds Decline With Global Peers; Treasury 10-to-30-Year Curve Narrowest Since 2010 Financials,Newsletter

First Impressions On Wednesday afternoon, Federal Reserve Chairwoman Janet Yellen gave her first post-meeting press conference. One statement stood apart from the rest, and has been called a “gaffe” by the various media outlets. The supposed mis-statement, which sent equities markets down nearly one percent, was a possible six-month time horizon on a potential rate hike. All things considered, the statement was rather benign, as was the market reaction. But, benign does not sell newspapers, so the markets were apparently “rattled” by her statement. Whatever. For more on the Fed meeting and Ms. Yellen’s press conference, please check out the…